Featuring a St. George and the Dragon design created by master craftsman and jeweler Benedetto Pistrucci in 1817, the coin was produced in silver to keep with the tradition of crossing the baby's palm with silver to wish him future health, wealth and happiness.

"Even we are surprised by the fact that the Prince of Cambridge's name was announced just yesterday, and that the artists of the Royal Mint had already created a coin that bears the image of his namesake," Shane Bissett, director of commemorative coin at the Royal Mint, said in a statement.

"Designers at the Royal Mint will often look to our archive of artworks for inspiration when they are creating new coins, and it could not have been more appropriate that they chose a depiction of St. George," he adds.

Can't get enough about the royal baby? Be among the first to know the news! Sign up below for our daily newsletter to find out about the new addition and other special offers – so you'll be the first to know everything from the baby's name to how the new mom and dad are adjusting to parenting.